Holaluz will conclude IPO by the End of November

• To boost growth the plan will allow Holaluz to obtain finance of between €30 and €40 million, in accordance with the strategy announced at the beginning of the year.
• The company will operate in the MAB (Alternative Equity Market) as part of the first stage of its programme. Later, depending on market conditions, the transition will be made to the continuous market.
• With the help of the IPO the company expects to reach one million customers and complete 50,000 photovoltaic installations by the end of 2023.

Barcelona, 7th October 2019 - Holaluz’s Board of Directors has approved a plan to put a portion of the company’s capital in the Alternative Equity Market (MAB). The decision is part of the green energy technology group’s open investment round whose objective is to boost company growth. More details will be announced at the end of this month.

The governing bodies of the MAB have given the go ahead to the start of the process which will most likely conclude with Holaluz being listed in November. The MAB functions as a gateway to a listing on the continuous market, and so Holaluz’s flotation can be judged as a first step towards trading on that market.

Holaluz will now embark on a roadshow that will introduce the benchmark institutional investors in Spain and Europe to its value proposition and growth plans for the next four years.

“Our listing on the MAB is in line with the challenges we set when we founded Holaluz and will give us reason to be satisfied. This is an intermediate step towards our medium-term goal of flotation on the continuous market,” says Carlota Pi, co-founder and executive president of Holaluz. As reported in September, Holaluz has already gained a capital increase of €10 million from Geroa EPSV. As part of that deal Virginia Oregui, the director of the Basque pension fund, assumed a position on the Holaluz Board of Directors. This was a pre-IPO agreement designed for Geroa to act as an anchor investor for Holaluz. The Axon Partners Group Fund, which has been part of Holaluz since February 2016, maintains its shareholding and position on the Board.

Carlota Pi, Oriol Vila and Ferran Nogué, co-founders of Holaluz, will continue as majority shareholders after the company floats. “This announcement doesn’t affect our vision to give meaning and a transcendent purpose to our company which uses the generation of value as a tool to make the world a better place.”

Holaluz’s target is to help the world produce 100% of its energy needs through green technology. This objective is advanced by persuading people to switch to a green energy plan which is 100% renewable, using fair prices (savings of an average of €100 per year can be made thanks to a consumer focused strategy and the intensive use of technology) and promoting a trusting relationship with customers.

Holaluz expects to reach one million customers and complete 50,000 photovoltaic installations by the end of 2023. The company ended 2018 with a turnover of €180 million*, a positive EBITDA for a second consecutive year and a staff of 176 people.

For the IPO JB Capital Markets will take the role of the global coordinator; GVC Gaesco will be the underwriter; Uría & Menéndez and Baker & Mckenzie will work as the legal advisors; Impulsa Capital will be the registered advisor; and EY will act as the auditor.

About Geroa

Geroa, based in San Sebastián, manages the savings of around 110,000 workers and has assets of more than €2,150 million. “Being able to take part in a success story like Holaluz is a great opportunity for us and our participants,” said Oregui.“Holaluz is an innovative and disruptive project that we can expect a lot from in the future.”

About Axon Partners Group

Axon is a Spanish consulting and investment firm with a venture capital and private equity division that manages funds in Europe, Asia and Latin America. Axon Partners has been a shareholder in Holaluz since February 2016.

“By innovating and instilling trust in its customers Holaluz leads the transformation of the energy sector, and our investment in the company reflects our firm commitment to green energy and self-consumption in Spain. We expect a lot from Holaluz in the future,” said Alfonso de León, CEO of Axon Partners Group.

• Sales run rate as of 31st December 2018.

This communication does not constitute an offer to buy, sell or exchange or the request for an offer to buy, sell or exchange stocks. Holaluz shares may not be offered or sold in the United States of America unless they are offered or sold with a declaration of effective notification as outlined in the Securities Act or under a valid exemption.